Rekt
Crypto slang for getting financially destroyed, usually after a leveraged position blows up or a token collapses.
A corruption of 'wrecked,' the word marks a trader who has lost big. Liquidation cascades and bad longs leave people rekt; so do rug pulls.
The famous example is the 2022 collapse of Terra and the FTX failure, which left whole portfolios rekt overnight. The term is grim humor, but the damage it describes is permanent and total.
Related terms
The forced closing of a leveraged position when losses drop its collateral below the required minimum.
Rug PullA scam where a project's creators drain its funds or dump their tokens, leaving investors with worthless holdings.
DegenShort for degenerate gambler, a trader who chases high-risk bets with little regard for fundamentals.
Weak HandsTraders likely to sell quickly under pressure, often at a loss during dips or volatility.